Midland States Bancorp (NASDAQ:MSBI) COO Sells 2,400 Shares of Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) COO Kyle Mooney sold 2,400 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $33.33, for a total value of $79,992.00. Following the transaction, the chief operating officer directly owned 13,610 shares in the company, valued at $453,621.30. This trade represents a 14.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Kyle Owen Mooney also recently made the following trade(s):

• On Tuesday, August 18th, Kyle Mooney sold 489 shares of Midland States Bancorp stock. The shares were sold at an average price of $33.16, for a total value of $16,215.24.
• On Tuesday, August 11th, Kyle Mooney sold 1,198 shares of Midland States Bancorp stock. The stock was sold at an average price of $33.51, for a total value of $40,144.98.

Midland States Bancorp Trading Down 0.4%

Midland States Bancorp stock traded down $0.14 during trading hours on Wednesday, reaching $33.10. The company had a trading volume of 10,104 shares, compared to its average volume of 161,005. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.78 and a quick ratio of 0.78. The company has a 50-day moving average price of $32.41 and a 200 day moving average price of $27.83. The firm has a market cap of $686.78 million, a price-to-earnings ratio of 21.22 and a beta of 0.65. Midland States Bancorp, Inc. has a 12-month low of $14.24 and a 12-month high of $35.10.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $83.74 million during the quarter, compared to analyst estimates of $80.70 million. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%. Equities analysts forecast that Midland States Bancorp, Inc. will post 3.4 earnings per share for the current year.

Midland States Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 14th. This is an increase from Midland States Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. Midland States Bancorp’s dividend payout ratio is currently 84.62%.

Institutional Investors Weigh In On Midland States Bancorp

Several large investors have recently added to or reduced their stakes in MSBI. Amundi boosted its holdings in shares of Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 620 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in Midland States Bancorp by 33.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock worth $43,000 after buying an additional 503 shares during the period. CIBC Private Wealth Group LLC bought a new position in Midland States Bancorp during the third quarter valued at $46,000. Legal & General Group Plc purchased a new stake in shares of Midland States Bancorp in the second quarter valued at $58,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Midland States Bancorp by 302.7% in the 4th quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 3,457 shares during the last quarter. 60.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on MSBI. Piper Sandler upped their price target on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods upped their target price on shares of Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Midland States Bancorp in a research report on Friday, July 31st. Wall Street Zen cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Finally, DA Davidson upped their price objective on Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $29.10.

About Midland States Bancorp

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.